Welcome to our dedicated page for Argo Blockchain Plc news (Ticker: ARBK), a resource for investors and traders seeking the latest updates and insights on Argo Blockchain Plc stock.
Argo Blockchain plc (NASDAQ: ARBK) generates a steady flow of news related to its role as a blockchain technology company focused on large-scale cryptocurrency mining. Company announcements highlight operational updates, financial reporting, restructuring developments, and governance changes that are relevant to investors tracking ARBK stock and the broader digital asset mining space.
Many news items center on Argo’s mining operations and infrastructure. Releases describe the refurbishment and redeployment of S19J Pro miners, the transition of units from immersion-based to air-cooled configurations, and hosting arrangements with Merkle Standard LLC in Memphis, Tennessee, and Washington State. Updates also cover the use of the Baie-Comeau facility in Quebec, expectations for the percentage of miners previously hosted at Helios that will be operational, and changes in the company’s hashrate as machines are installed, sold, or rehosted.
Financial and regulatory communications are another key theme. Argo publishes annual results prepared under International Financial Reporting Standards, discusses going concern assessments and material uncertainties, and reports on restatements of its Form 20-F in response to SEC comments on digital asset accounting. News releases also detail preliminary financial highlights, delays in financial statement publication, and the lifting or suspension of listings in line with UK Listing Rules and Financial Conduct Authority requirements.
Corporate actions and capital structure changes feature prominently in the news feed. The company reports on its UK restructuring plan under Part 26A of the Companies Act 2006, court hearings, creditor and shareholder meetings, and the equitisation of secured debt and 8.75% senior notes due 2026. Announcements also cover changes to the American Depositary Share ratio, delisting from the London Stock Exchange, and efforts to maintain Nasdaq listing compliance.
Governance and insider activity are reflected in updates on executive appointments and departures, grants of performance share units, and purchases of American Depositary Receipts by persons discharging managerial responsibilities. Some filings and press releases note Argo’s exploration of opportunities in artificial intelligence and high-performance computing, alongside its continued emphasis on renewable-powered, climate positive cryptocurrency mining. Investors and analysts can use this news page to follow these operational, financial, and strategic developments over time.
Argo Blockchain plc has provided an operational update for May 2022, noting a decrease in Bitcoin mined to 124 BTC from 166 BTC in April. This drop is attributed to increased mining difficulty, a lower hashrate, high energy prices due to Texas heat, and unplanned downtime. Mining revenue also fell to £3.07 million ($3.89 million) from £5.52 million ($6.83 million). Despite these challenges, the company increased its hashrate capacity to 1.9 EH/s with ongoing installations at its Helios facility and a partnership with ePIC Blockchain Technologies for custom mining machines.
Argo Blockchain has announced its Annual General Meeting (AGM) scheduled for 10:00 AM on June 29, 2022 in London. Shareholders can attend in person and participate via the Investor Meet Company platform, although they will not have voting rights on the platform. Shareholders are encouraged to submit their questions ahead of the meeting. The Notice of AGM and Proxy Form will be distributed today and available on the company's website shortly. Argo Blockchain is recognized as a leader in cryptocurrency mining, focusing on sustainable energy sources.
Argo Blockchain (LSE:ARB, NASDAQ:ARBK) announced as of May 31, 2022 that its share capital consists of 469,677,335 ordinary shares at £0.001 each. All shares carry equal voting rights and none are held in Treasury. This information is crucial for shareholders to assess their notification obligations under the FCA's Disclosure Guidance and Transparency Rules. The company emphasizes its position as a leader in cryptocurrency mining, powered by clean energy, headquartered in London.
Argo Blockchain, a leader in cryptocurrency mining, disclosed several transactions involving its directors from May 19 to 23, 2022. Key highlights include:
- Directors purchased shares and American Depositary Receipts (ADRs), with Maria Perrella buying 6,000 ADRs at US$6.54, and Sarah Gow acquiring 20,000 shares at £0.4920.
- Peter Wall exercised options for 430,000 shares at £0.070 each, while an employee exercised options for 1,165,000 shares.
- Options were granted for 4,850,000 shares to staff, with a vesting schedule extending to May 2025.
Argo Blockchain PLC (LSE:ARB; NASDAQ:ARBK) reported a strong Q1 2022 with $19.5 million in revenue, marking a 9% year-over-year increase. The company achieved a net income of $2.1 million and an adjusted EBITDA of $19.1 million, a 24% rise compared to Q1 2021. Argo mined 470 Bitcoin, up 21% from the previous year, while maintaining a mining margin of 76%. As of March 31, 2022, its Bitcoin holdings stood at 2,700 BTC, alongside a cash balance of $11.9 million. Major operational milestones include the energization of the Helios facility and new financing agreements totaling $97.3 million for expansion.
Argo Blockchain plc, a leader in cryptocurrency mining, is set to release its Q1 2022 financial results after Nasdaq trading closes on May 17, 2022. A conference call is scheduled for May 18, 2022, at 08:00 ET / 12:00 GMT, open to shareholders. The call will be accessible via the Investor Meet Company platform, with questions welcomed before and during the event. Investors can register through a specific link. The company emphasizes its commitment to transparency and shareholder accessibility in this upcoming earnings report.
Argo Blockchain plc has announced that its Annual Report for the fiscal year ended December 31, 2021, is now available on its website, argoblockchain.com. Shareholders will receive the report directly in due course. The company is recognized as a leader in cryptocurrency mining and operates one of the largest and most efficient mining facilities powered by clean energy. Argo Blockchain is listed on both the London Stock Exchange under ARB and on the Nasdaq Global Select Market under ARBK.
Argo Blockchain PLC has released its operational update for April 2022, reporting a total of 166 Bitcoin mined, a slight increase from 163 Bitcoin in March 2022. Mining revenue rose to £5.52 million (approximately $6.83 million), reflecting a mining margin of about 75%. The company ended April with 2,682 Bitcoin in total. Additionally, Justin Nolan has been promoted to Chief Growth Officer, emphasizing growth strategies and the rapid development of the Helios facility.
Argo Blockchain has inaugurated its flagship mining facility, Helios, in Texas, marking a significant milestone in its cryptocurrency mining operations. The facility is set to commence operations next week, utilizing 200 MW of power capacity, leading to a 243% increase in Argo's hashrate to an expected 5.5 EH/s by the end of 2022. Additionally, Helios has access to an extra 600 MW for future expansion to over 20 EH/s. The mining operation employs advanced immersion cooling technology for enhanced efficiency and machine longevity.
Argo Blockchain has announced additional loans totaling up to $70.60 million from NYDIG to finance digital asset mining equipment for its Helios facility in Texas. The loans, secured by the equipment and acquisition contracts, will support ongoing development at the site. Each loan has a 12% interest rate and varying maturity dates, primarily through 2024. CEO Peter Wall expressed optimism about the partnership, indicating it will enhance Argo's capacity in the competitive cryptocurrency mining sector.